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Mathematics, 04.04.2020 11:53 Dvrsug8598
Suppose that your goal is to have $1,000,000 in your retirement account when you retire. You don’t have a fixed idea of when you will retire, but decide to save $100 of each weekly paycheck automatically deducted and deposited in the retirement account. The account earns 6.5% annual interest, compounded weekly. In about how many years will the value of the investment reach $1 million? Show your work and round your answer off to the nearest year.
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Suppose that your goal is to have $1,000,000 in your retirement account when you retire. You don’t h...
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